SpaceX agrees to buy 800 MHz spectrum from Grain Management, pending FCC approval
Overview
SpaceX has agreed to buy a nationwide 800 MHz spectrum portfolio from Grain Management, covering up to 14 MHz of paired spectrum, subject to Federal Communications Commission approval.
The company says the purchase is intended to help Starlink become a major US mobile carrier. The Wall Street Journal reports that SpaceX is buying the licenses to build a mobile network that would compete with large telecom companies, though it gives no details on cost, timing, or network specifications.
CNBC reported that shares of AT&T, Verizon, and T-Mobile fell in extended trading after the announcement. That report establishes the timing of the decline but not its cause.
Written by AI from the articles below · updated Oct 8, 9:18 PM ET
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Article timeline
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- The Wall Street Journal · TechSpaceX Makes Big Play to Become a Wireless Carrier
AISpaceX is buying spectrum licenses to build a mobile network that would compete with major telecom companies. The source provides no further details on the licenses' cost, timing, or network specifications.
- CNBC · TechnologySpaceX agrees to buy 800 MHz spectrum, pressuring US carrier stocks
AISpaceX announced an agreement to buy a nationwide 800 MHz spectrum portfolio from Grain Management, subject to FCC approval. The license covers up to 14 MHz of paired spectrum and is intended to help Starlink become a major US mobile carrier. AT&T, Verizon, and T-Mobile shares fell in extended trading after the announcement.
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